Cost Accountant duties and responsibilities

Cost Accountants collaborate with other accountants and financial staff in the company to provide financial and accounting support to executives and department heads who establish goals and budgets for the organization. Their duties include:

• Collecting and analyzing data about a companys operational costs
• Setting standard costs of manufactured goods
• Developing and analyzing cost standards
• Carrying out cost-volume-profit (CVP) analysi including for small businesses
• Establishing costs of business processes such as administration labor shipping etc.
• Performing account reconciliations
• Preparing audit reports and presenting their findings to management
• Recommending changes to the companys processes and policies to reduce costs and maximize profit
• Advising executives and upper management on appropriate costing based on financial data
• Managing the companys balance sheet and accounting books
• Supporting other company accountants with invoicing and capital expenditure

Cost Accountant skills and qualifications

• Bachelors degree in cost accounting.     
• Fluency in Microsoft Office suite (Outlook Excel  Word PowerPoint etc.)
• Advanced knowledge of mathematics and statistics
• Understanding of organizational accounting concepts
• Strong financial analysis skills
• Ability to prepare financial reports and give recommendations based on available data
• Superior knowledge of financial reporting software tools and ERP software
• Ability to perform risk and security assessments
• In-depth knowledge of financial guidelines and regulations
• Excellent attention to detail
• Effective communication including writing speaking and active listening
• Collaboration and teamwork

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